Goldman Sachs_Crisis Communication

Earlier this year, the SEC investigated and sued Goldman Sachs for fraud. The parties agreed to a $550 million settlement.

Prior to the settlement, Goldman issued press releases denying allegations. One, issued April 16, listed factors company executives felt were important to its reputation's preservation.

Goldman's approach seemed to shift during the chronic crisis stage. Later releases acknowledge misrepresentation and promote a new Business Standards Committee's establishment.

While this shift is indicative of an increasingly proactive communication plan, financial blogger Courtney Comstock noted in a September 2 post that Goldman seems to put more energy into promoting its PR tactics than into mending its image (Comstock).

Comstock, Courtney. "Goldman Sachs is Conducting Image Studies in China." Business Insider. Business Insider, Inc., 02 Sept 2010. Web. 5 Sep 2010. .